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Will & Estate Gifts

How You Can Help

Leaving a gift in your will or through your estate plan is an incredibly meaningful way to leave a legacy of impact for those most vulnerable among us. It’s possible for anyone, no matter your estate size to leave a gift. There are also tangible benefits, such as reducing your estate tax or income tax for your heirs.  

The three easiest ways to make a legacy gift are through your:

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Will

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Life Insurance

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Retirement Plan

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Leaving a Legacy with Your Will 

A gift left in a will or estate plan is often called a bequest. With the help of an advisor, you can include language in your will or trust specifying a gift for Association House of Chicago. This could be a specific dollar amount, a percentage of your estate, or the balance or residue of your estate. You retain control of your assets during your lifetime and can change your mind or modify your gift if circumstances change. For recommended language, download our bequest language guide

 

Bequest gifts are fully deductible for federal estate tax purposes, and there is no limit on the deduction your estate can claim.

Leaving a Legacy with Your Life Insurance 

You can name Association House as a primary or contingent beneficiary of your life insurance policy.  You retain control and can change your mind or modify your gift if circumstances change. This gift type is ideal for someone whose family no longer needs the protection offered by life insurance.  

 

Life insurance gifts pass to Association House free of federal estate tax. If you would like your gift designated for a specific use or for the endowment, please contact us to record your wishes.  

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Leaving a Legacy with Your Retirement Plan 

You can name Association House as a beneficiary of your retirement plan through a simple beneficiary designation form filed with your plan holder. You retain control and can change your mind or modify your gift if circumstances change. 

 

IRA gifts are fully deductible for federal estate tax purposes and pass to Association House free of income tax.  

How It Works

If you would like to plan a bequest to include Association House of Chicago, please notify us so we may recognize your thoughtful and generous intentions. Please email Lillian Bui (lbui@associationhouse.org), Director of Development, to notify us.

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